1. California Fisheries Fund
Partnering with Private and Institutional Investors
Food, Farms, Fish and Finance
Toronto | May 25, 2013

2. Agenda
Defining the Problem
Investment Strategy
CFF: A Case Study
New Opportunities

3. Fisheries Landscape
• $100 billion global industry
• USA: $5.3 billion, 186k jobs
• Canada: $1.9 billion, 52k jobs
• Pacific region: $710 million,
17k jobs
Sources: World Bank, FAO, NOAA

4. Overview

6. Environmental
Conservation
Strong Port
Communities
Profitable
Fishing
Objectives

7. Owen Hackleman
• Young, new entrant
fisherman
• Trap gear for
targeting black cod
Loan Portfolio

8. Bettencourt & Son
• CFF loan for trap
fishing gear
• Taking advantage of
new gear regulations
Loan Portfolio

9. Wild Planet
• Partnership with
commercial bank
• Build new
infrastructure
Loan Portfolio

10. CFF Structure
Advisory
Committee
• Maintain conservation vision
• Evaluate mission alignment of deals
Credit
Committee
• Evaluate borrower creditworthiness
• Ensure compliance with loan policy
Governing
Board
• Guide CFF vision
• Review + approve all loans

11. CFF Structure
$3.8 M available
$1.7 M in portfolio
11 borrowers 14 loans

12. Investors
• Create jobs, Increase tax receipts, Coastal conservation
State of California
• Grant to marine fund, Ultimately invest through PRI loan
Foundation 1
• Grant to “do good,” Promote long-term change model
Foundation 2
• Complement funder’s program objectives, Quick success
Foundation 3

13. • Capital alone is not enough
• Regulatory process = really important
• Small target market
• High cost of operations
Lessons Learned

14. New Opportunities
• Tracking/traceability
• Better data collection
• Gear innovation avoid bycatch and
habitat damage
• Improve infrastructure maintain
quality/freshness and good prices
• Large seafood buyers should be interested
in preserving sustainable supply chain

16. California Fisheries Fund
Phoebe Higgins, Director
phiggins@edf.org
www.californiafisheriesfund.org